Many investors like to look for momentum in stocks, but this can be very tough to define. There is great debate regarding which metrics are the best to focus on in this regard, and which are not really quality indicators of future performance. Fortunately, with our new style score system we have identified the key statistics to pay close attention to and thus which stocks might be the best for momentum investors in the near term.

This method discovered several great candidates for momentum-oriented investors, but today let’s focus in on Intrawest Resorts Holdings, Inc. (SNOW Quick QuoteSNOW - Free Report) as this stock is looking especially impressive right now. And while there are numerous ways in which this company could be a great choice, we have highlighted three of the most vital reasons for SNOW’s status as a solid momentum stock below:

Short Term Price Change for Intrawest Resorts

A great place to look for finding momentum stocks is by inspecting short term price activity. This can help to reflect the current interest in a stock and if buyers or sellers have the upper hand right now. It is especially useful to compare it to the industry as this can help investors pinpoint the top companies in a particular area.

With a one week price change of 0.5% compared to an industry average of 0.4%, SNOW is certainly well-positioned in this regard. The stock is also looking quite well from a longer time frame too, as the four week price change compares favorably with the industry at large as well.

Longer Term Price Change for Intrawest Resorts

While any stock can see a spike in price, it takes a real winner to consistently outperform the market. That is why looking at longer term price metrics—such as performance over the past three months or year-- and comparing these to an industry at large can be very useful.

And in the case of SNOW, the results are quite impressive. The company has beaten out the industry at large over the past 12 weeks by a margin of 19.8% to 0.0% while it has also outperformed when looking at the past year, putting up a gain of 83.7%. Clearly, SNOW is riding a bit of a hot streak and is worth a closer look by investors. 

SNOW Earnings Estimate Revisions Moving in the Right Direction

While the great momentum factors outlined in the preceding paragraphs might be enough for some investors, we should also take into account broad earnings estimate revision trends. A nice path here can really help to show us a promising stock, and we have actually been seeing that with SNOW as of late too.

Over the past two months, 3 earnings estimates have gone higher compared to no downward revisions for the full year.  These revisions have helped to boost the consensus estimate as two months ago SNOW was expected to post earnings of 28 cents/share for the full year, though today it looks to have EPS of 60 cents for the full year now, representing a solid increase which is something that should definitely be welcomed news to would-be investors.

Bottom Line

Given these factors, investors shouldn’t be surprised to note that we have SNOW as a security with a Zacks Rank #2 (Buy) and a Momentum Score of ‘A’. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

So if you are looking for a fresh pick that has potential to move in the right direction, definitely keep SNOW on your short list as this looks be a stock that is very well-positioned to soar in the near term.

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